Investors focused on the Medical space have likely heard of Penumbra (PEN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Penumbra is one of 843 individual stocks in the Medical sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PEN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PEN's full-year earnings has moved 39.71% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, PEN has gained about 37.34% so far this year. In comparison, Medical companies have returned an average of 2.09%. As we can see, Penumbra is performing better than its sector in the calendar year.
To break things down more, PEN belongs to the Medical - Instruments industry, a group that includes 93 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 14.07% so far this year, meaning that PEN is performing better in terms of year-to-date returns.
PEN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.